Blueprint Medicines Corporation (NASDAQ:BPMC) Q3 2023 Earnings Call Transcript

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We see advances in patients starting at 200. But we have patients in that gray area in the middle and we understand that area of SM I think better than anyone. We know that patients can evolve over the course of their disease. And so the fact that we have this range of doses that really allows physicians to customize treatment for the clinical characteristics of the person sitting in front of them is an incredible strength of the product profile that we’re really getting very positive feedback on.

Operator: Our next question comes from Chris Raymond with Piper Sandler. Your line is open.

Chris Raymond: Hey. Thanks. And congrats from us on the great progress. Just two questions maybe just on the prescriber base. So allergists now at 20% or 25% of prescribers, where do you guys think that mix of allergists and hemoc sort of finds the stasis in terms of that sort of mix between the two? And then also maybe where immunologistsort of fit in there. And then on the guidance for AYVAKIT for 2023, I think this is the second quarter you guys haven’t sort of readdressed that initial guidance or I guess the guidance that you last issued in May. I mean, you seem to be in a pretty decent pace to sort of beat that number. Just kind of curious why not address that here? Thanks.

Kate Haviland: Yeah. So let me — David, let me take the guidance piece first and I’ll hand over to Philina to talk more about the commercial dynamics. So from a guidance perspective, the guidance we gave at the beginning this year was solely for the existing business at that time. So that was advanced SM and GIST. I think we were really clear about that at that point that we were not going to include ISM because of the launch year. And at that — in January, we are anticipating approval on the PDUFA date in May. But again, you just really don’t know how those things are going to come together. And so, again, guidance for this year is focused on the advanced SM and the GIST business. The guidance we will provide next year on the Q4 call will be inclusive of ISM as well.

And so therefore, you’ll get guidance on the full brand at that point. Even though it’s still early in the AYVAKIT launch, we’re committed to providing that AYVAKIT launch excuse me. We’re committed to providing that at that point. Philina, do you want to talk a little bit about the commercial dynamics?

Lena Lee: Yeah. To your question about the prescriber base. And again, I think we’re off to a very strong and healthy start in terms of the step-up in new prescribers that we saw in this quarter. We expect that to continue to grow and that there’s a lot of headroom to continue to grow that both among the allergies immunologists. So we do expect the 25% contribution to continue to increase. And we’re just getting started, right? The growth that we’ve seen represents just a really small fraction of the overall providers who are seeing ISM patients and there’s a lot of headway to continue to grow the overall patient penetration.

Operator: Our next question comes from Matt Biegler with Oppenheimer. Your line is open.

Matt Biegler: Hi. Congrats from my team as well. I apologize if this has been asked before but do we have any early insights into the patient retention rate? Are patients generally continuing to refill their scripts, let’s say after the first month or two on treatment? Or is it still too early to tell?

Kate Haviland: Yeah. Thanks for that question. I mean we — again we believe that the durability of treatment in ISM is going to be one of those great drivers of growth. Philina, do you want to talk about what we’re seeing today?

Lena Lee: Yeah. So again, reiterating Kate’s point we certainly see potential for chronic dosing given the very promising benefit/risk profile of AYVAKIT. We’re still very early in the ISM launch, but we’re really pleased to see the very high compliance rate of the patients who have come on and that they are refilling their therapy. We expect that to continue.

Operator: This concludes our Q&A. I will now hand back to Kate Haviland CEO for closing remarks.

Kate Haviland: Thank you, operator, and thank you all for taking the time to join us today. We are very excited about the launch of AYVAKIT and ISM and believe it does represent one of the most exciting and attractive launches in rare diseases today. And so, we appreciate your continued support and look forward to additional updates coming forward next year.

Operator: Ladies and gentlemen, today’s call has now concluded. We’d like to thank you for your participation. You may now disconnect your lines.

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